Bertel O. Steen Kapital acquires 51 percent of the shares in IT-consulting company ITverket together with the well-known business executives Jo Lunder and Tom Scharning.
Norway is amid a comprehensive digitalization of both the private and public sector, where Norwegian IT-consultants play a major role. In a strong digitalization market, ITverket has grown steadily in recent years, and is one of the most attractive medium-sized players in this sector in Norway. Together with the team at ITverket, we have great ambitions to develop the company further, says Haakon H. Jensen, managing partner in Bertel O. Steen Kapital.
ITverket is an IT-consulting company with around 100 employees and offices in central Oslo. The company offers services in system development and integration, project management, architecture, and digital customer experiences. ITverket assists several of the largest players in Norway in several industries such as banking, finance, insurance, and telecom, among others. In addition to the technical aspects, the IT agency has over many years developed a very strong corporate culture, which attracts solid professional expertise and some of the best minds in the market.
Bertel O. Steen Kapital is the investment company of the family owned Bertel O. Steen Group, with roots dating back to 1901. The Group, owned by Bertel O. Steen Holding AS, had revenues of NOK 17 billion in 2019 and 2 550 FTEs. The investment strategy of Bertel O. Steen Kapital is to invest in medium-sized growth companies with great potential.
- Bertel O. Steen is a perfect partner for us. They are known for their long-term perspective, at the same time as they will provide the required expertise and capital for us to be able to take the next steps further. The team at Bertel O. Steen Kapital has really seen the value in the good and strong culture we have built in ITverket over many years. We look forward to developing the company together with them, says Tom Henrik N. Rogstad, CEO of ITverket.
Oaklins' team in Norway served as the lead advisor to the shareholders and management of ITverket in this transaction.